President Bola Ahmed Tinubu has stated that the naira is expected to appreciate to N1000 per dollar in the coming weeks.

He made the remarks on Tuesday at the Renewed Hope Ambassadors Summit in Abuja, noting that the Central Bank of Nigeria (CBN) intervened on Monday to mop up excess dollars and stabilize the currency.

According to the president, the monetary policies implemented by his administration are beginning to deliver results. He said,

“In fact, if not for the interventions by the Central Bank of Nigeria yesterday, the N1,000 to a dollar target would have been achieved in weeks, not months.”

On Tuesday, the naira traded at N1,355.37 and N1,370 per dollar across the official and black markets.

Central Bank of Nigeria Governor Olayemi Cardoso, during a briefing following the 304th Monetary Policy Committee meeting, reported that the country’s gross external reserves had risen to a 13-year high of $50.45 billion as of February 16, 2026.